Cleared 90% of balance; how long till offered BT deal?

steevio_uk

Hello all. I did ask this question in the 'Unofficial balance transfer for existing' thread, but I thought it may be worthy of it's own thread for those that are clearing balances and looking for answers on when they may then be offered a BT deal by that same provider.

Basically, I had an £11,500 balance on my Barclaycard. Kept up all payments, never late.

I have since transferred nearly £10k from it, onto my girlfriend's 0% cards. These are completed and now I have around £1,600 left on the Barclaycard, with an £11,500 limit.

So, I have approx £9,900 available credit on my Barclaycard and I have a balance on an MBNA card of £9k

My question is.... now that I've reduced the balance, will Barclaycard now be in a position to offer me a balance transfer deal?

If so, will it be right away or do I have to wait a couple of months?
Or maybe do I need to clear the entire balance in order to stand the best chance?

I understand that this is a case of 'how long is a piece of string', but wondered if there were typical scenarios to this sort of thing as I'm eager to get this ball further rolling, as you can imagine!

My snowball prediction is getting healthier as I'm shifting this about and things are looking a lot rosier.

Thanks a lot in advance

Candyapple

Barclaycard offer deals monthly. Log into your online account and check the offers section on the 1st of every month, it will show there all your offers.

Out of my 2 Barclaycards, one was maxed out close to the limit and I stopped receiving any offers for it (used to always receive them monthly so it makes sense no money to spend, no offers). I paid off £1k and started receiving balance and money transfer offers.

My other Barclaycard where I have a long term balance transfer of less than a quarter of the limit I always receive monthly offers.

steevio_uk

Ah, brilliant. Thanks for your reply.

So, it's pretty irrelevant when I cleared the balance, as Barclaycard's 'cycle' of offers runs every month and I suspect that every account is checked as to whether it meets conditions for offers and updates it accordingly.

That's encouraging that it's automated.

Any idea what type of offer I may hopefully receive?

engineer_amy

ive just checked my Barclaycard, I am already running a small balance on 0% with them and I have 2 offers available for a BT, 0% until Feb 17 with a 2.9% fee or 6.9% until paid in full. There is also a money transfer option at 0% until Feb 17 (2.9% fee).


I suppose that's Novembers offering so that would have been 16 months interest free had I taken it at the start of November.


I don't know if people are offered different lengths of 0% depending on balance or history, or whether it is an "open to all" offer

steevio_uk

Cheers Amy.

Is there a maximum on the amount to transfer in? Wasn't it limited at £5k or 90% of your card limit, whatever is higher, at some point?

Candyapple

Here are my November offers below.

Card 1 held for 10+ years (the one where I paid off £1k recently)

Balance transfers
6.9% interest on balance until paid in full (2.9% fee)
0% interest until 1 Nov 2016 (1.9% fee)

Money transfer
0% interest until 1 Aug 2016 (1.9% fee)


Card 2 held for 11 months, using quarter of limit on long term BT

Balance transfers
6.9% interest on balance until paid in full (2.9% fee)
0% interest until 1 Feb 2017 (2.9% fee)

Money transfer
0% interest until 1 Feb 2017 (2.9% fee)

steevio_uk

I would be happy with any of those to be honest.

Gives me plenty of options in terms of shifting away from the higher MBNA rate, then having the option to shift it back on there if MBNA are kind enough to offer me a very good offer.

engineer_amy

steevio_uk wrote: »

Cheers Amy.

Is there a maximum on the amount to transfer in? Wasn't it limited at £5k or 90% of your card limit, whatever is higher, at some point?

Yep you could transfer up to 90% of the available credit

steevio_uk

I meant to say 'whatever is lower', but if it's 90% even for existing customers then that's good news.

KRB2725

My husband and I usually get different offers, his 0% offers are usually for a longer duration than mine.

We have different statement dates, but we both usually see the offers on our accounts from around the 20th of the month.

If you have only just reduced your balance, you may not receive an offer until next month.

steevio_uk

2nd of the month and no offers as yet.

Hopefully 'the start of the month' may mean any time in the next few days, fingers crossed, though I know there's no hard and fast rule to these things!

I notice there's a thread on here regarding the new credit score feature with Barclaycard, which I recently signed up for. Wondering whether that'd affect any decision from them to show me offers, seeing as my score isn't particularly great (mid 600s due to high exposure, but has never had any blemishes).

I dunno. I sit and wait (semi) patiently.....